I have to redraw the flag because neither breakout or breakdown during the Chinese New Year time.

I have no idea when the breakout will happen now because the market sentiment is affected by the cooling measure.

However, if we just look at the chart, I don't see how cooling effect has affected the price. This is a blessing that UIC is one of the best property stock withstand the effect of cooling measure and China effect.

Today is 21 February 2011.

UOL has a very important support at $4.46 which has been tested 3 times since October 2010.

This company is announcing the unaudited full year 2010 financial results on Tuesday, 22 February 2011. This will provide the near term catalyst for the potential rebound.

In fact, the price on last Friday, 18 Feb 2010 has started to breakout of the down trend providing a hint of strong rebound.

It worth to note that the resistant at $4.46 is coupled with a breakaway gap which prevail since October 2010. This will provide a strong support.

In the sea of sell down of property stock, it may be a good time to collect some value stock and gems which has been brutally sell down without convincing reason.

Today is 28 January 2011.

UIC decided to consolidating at around $2.76 and $2.80 now. The picture is very quiet now because the general market seems to move to no way.

The good news is the price action of UIC still bullish (and getting more bullish!) and there is sign that the breaking out is coming soon.

This morning UIC has hit $2.80 again. If UIC clear $2.84, then be ready to add on the position. The next leg will probably push it beyond $3.00 easily.

Today is 22 January 2011.

After seeing UIC cling on around $2.80 for the last few days despite the heavy sell down in the overall market, now I believe that the gap at $2.71 and $2.72 is not going to get cover back.

Instead, I believe that the price is consolidating at current level and looking up to break $2.84 resistance next week.

The target price for this new leg is going to be substantial.

Today is 22 January 2011. UOL Group has been sold down heavily for the last 2 days after staying at the recent history high for 2 days.

Now I believe that the price shall retest the trend line before a meaningful rebound. The rebound will likely to propel the stock price to another recent historical high.

The target price worked out to be $5.27. However, if the price dips lower then last Friday closing price of $4.83, which is also the base of the bull flag, then the resistance to reach that target price will get stronger.

I still invested.

However, for friendly visitor visiting my blog, especially those bookmarked my page, I would like to raise this amber flag for short term speculator for this cluster of companies.

Some disturbing sign of toppish is forming despite the underlying bullishness is still pretty healthy and intact. Furthermore, the performance of external market outside Singapore is getting fatigue. I am no selling because I have profit buffer and belong to longer term of investor group.

Play safe.

UOL has very bullish chart now. 





The daily chart above has a target price of $5.12. 

Not too much meat left since the breakout is a little 'old'.

 

The weekly chart above has a target price of $5.35.

The meat is enough to feed many stomach.